Industrial production inched up by 0.7% in 2006, after a rise of 0.3% in 2005 according to the latest figures from the Statistical Service. The increase was all down to mining and energy, as manufacturing output fell by 0.9%. Within the manufacturing category, however, eight of the 14 categories rose, notably electrical and optical equipment,
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Better ways to tackle the pensions timebomb  Increasing social insurance contributions rates is not the answer to the looming pensions crisis, the IMF mission chief for Cyprus Alexander Hoffmaister said in a telephone interview with reporters last week. Hoffmaister said that Cyprus’s current system had “fallen behind the demographic trend†and that there was
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Microsoft has admitted its Windows Live Messenger client displayed banner ads for several days punting an application blacklisted as a security risk, The Register reports. Microsoft has pulled the ads for Errorsafe, a purported security product labeled by legitimate firms as “scareware” designed to frighten users into buying a product that actually impairs Internet safety.
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PandaLabs has detected a huge number of emails containing the SpamtaLoad.DO trojan. In fact, this trojan was present in up to 40% of the infected messages received by PandaLabs every hour. Panda Software’s TruPrevent Technologies have detected SpamtaLoad.DO without the need for prior updates. Those users with these technologies installed on their computers have been
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Whatever the pros and cons of a unilateral adoption of the euro by Turkish Cypriots on the same day as it is formally adopted by the Republic of Cyprus controlled areas, the Turkish Cypriot economy needs serious structural reform. This was perhaps the only consensus that came out of a wide-ranging debate on Tuesday at
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— 16 European telcos told to block roaming income  A Cyprus court has denied a request made by Turkish telecom giant Telsim Mobil requesting the cancellation of an interim order blocking the roaming income that it claims from 16 European telecom companies. Last year, the Nicosia District Court had granted an interim order blocking
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By Michael S. Olympios  The annual meeting got a big boost this year from Marfin Popular board of directors. After last year’s theatrics with former Chairman Lazarides and the eulogies staged, the new board gave new momentum in terms of shareholder democracy. Shareholders’ outrage is absent from the latest shareholder gatherings in 2006 as
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EU Energy Commissioner Andris Piebalgs arrives in Cyprus on Thursday to present and support the energy policy of the European Union, according to an official press release. During his sat (1-2 March 1-2) the Commissioner will be received by President Tassos Papadopoulos and will meet with Foreign Minister George Lillikas and Minister of Commerce, Industry
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Britain’s Under Secretary of State for Defence has endorsed the Chief of Joint Operations’ recommendation to appoint Sodexho Defence Services as the preferred bidder for Project GIBSON, the Cyprus Multi Activity Contract for the British forces on the island. Eurest Support Services have been appointed reserve bidder, a British Forces Cyprus announcement said. The decision
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Moody’s Investors Service has raised the outlook on Bulgaria‘s Baa3 long-term foreign and local currency bond ratings to positive from stable prompted by the government’s strong fiscal position, robust economic growth and expected ERM2 membership. According to preliminary data, the government ran a budget surplus of 3.7% of GDP in 2006. “This is the largest
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